Well from 67 cents yesterday's re-open down to 56 cents this morning. More sellers than buyers now, nearly 2:1.
This makes belivers (long termers) like me angry. Traders out to make a quick buck. Such an announcment should drive the SP up steadily but these days it's just means quick profits for some.
Has anyone else got any theories why the about turn?
I hope the gains from the contract are not quickly erased by traders selling out for a few cents gain in the SP. I guess that's the nature if the market these days!
I was in last year when the SP peaked (AGGGH) but topped up at 40 cents to average down. My average is still way high at $1 but I belive this baby will see the $1.50-$2 in the next year. Cheers DaveJ
MAH Price at posting:
54.6¢ Sentiment: Buy Disclosure: Held
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